Cochin Shipyard IPO allotment status will be available soon. The IPO allotment is expected to take place within 6 working days from the closing of the issue on August 3rd. The allotment status should be available by August 9th and it should start trading from August 10th.

Once the issue is allotted you can check the status here just by providing your PAN card number, application number of Client ID. Just select the option of Application Status, from the drop down select Cochin Shipyard IPO and check by providing your PAN Card Details.

The link is slow as lot of people are trying to access it. Please be patient and wait for it to open.

In India, Cochin Shipyard Limited is the largest public sector shipyard in terms of dock capacity. Cochin Shipyard Limited is coming up with an IPO. They are going to introduce their initial public offer which will hit the primary market on 1st August, 2017 and closes on 3rd August, 2017. The company aims to raise around Rs. 1,468.11 crore by offering shares at Rs 424 – Rs 432 Per Equity Share. They are offered discount of Rs 21 to RII and Employee. So the discounted price band for Retail and Employee is Rs 403 – Rs 411. [Read more…]

SIS IPO allotment status will be available soon. The IPO allotment is expected to take place within 6 working days from the closing of the issue on August 2nd. The allotment status should be available by August 9th and it should start trading from August 11th.

Once the issue is allotted you can check the status here just by providing your PAN card number, application number of Client ID. Just select the option of Application Status, from the drop down select SIS IPO and check by providing your PAN Card Details.

The link is slow as lot of people are trying to access it. Please be patient and wait for it to open.

Security and Intelligence Services (India) Limited is provider of private securities and facility management services in India as well as in Australia too. Security and Intelligence Services (India) Limited are coming up with an IPO. They are going to introduce their initial public offer which will hit the primary market on 31st July, 2017 and closes on 2nd August 2017. The company aims to raise around Rs.362.25 crore by offering shares at Rs 810 – Rs 815 Per Equity Share. For this issue offer for sale is of 5,120,619 Equity Shares. [Read more…]

In this season of Buybacks, WIPRO is the latest one to come with a Buyback after successful buyback of Mphasis, TCS and HCL Tech. Wipro is bringing one of the largest buyback offer (BO) worth Rs 11,000 crore. We will try to explain in detail how the Buyback offer work and what should you see before going ahead with a buy back offer.

The WIPRO BO was announced on 20th July after market hours when the price was around 270. The next day because of the offer, the price jumped to Rs 286. The buyback offer is for Rs 320. Some of you may question as to why the price did not reach Rs 320 or closer to it, thus removing the arbitrage opportunity. To understand this better, you have to understand how the buyback works.

How Buyback of shares work ?

So a buyback purchase back shares in two bracket. Any buyback have 15% reserved for retail investor and 85% for non retails investor which includes promoters, MF, FII, DII etc. In most of the previous buyback, retails portion in undersubscribed, leading to 100% acceptance ratio. But non retail part which have very large number of share, get an acceptance of around 10%. So if they have 1 lakh share, only 10,000 would be brought back. Because of this, the price doesn’t converge at the buyback price as soon as it is announced. Also, majority of share are held by non retail category, so the price of the buyback never converge as not everyone can sell on that price.

How is WIPRO Buyback for retail investor ?

In case of WIPRO, total buyback is for 34 Cr shares which is 7.06% of the equity. Of this, 15% or 5.1 Cr share would be brought from small investor with less that 2 lakh worth of holding. As per the shareholding data on March 31, 4.8 Cr share are held by investor who have 1-5000 shares. And someone who has 5000 share have a holding of almost 25 lakh, pre bonus which is much higher than 2 lakh. So actual number as per my guess who have holding of less than 2 lakh would be close to 2 Cr share compared to 5.1 Cr buyback. But as lot of people are becoming aware of this BO, many retail investor are taking a new position is WIPRO before the buyback date in announced. So it is a possibility that number of share held by small investor could be more than 5.1 Cr shares.

In case this happens, there would be a proportionate buy back. So if 10Cr share are tendered for buyback for retail investor, 50% would be brought back and you would end up holding the rest. There is a little chance of this happening but we want you to know the risk before taking any decision of whether you should go ahead with the buyback.

How to offer share for Buyback

Offering shares for Buyback is very easy.

Most of the full service broker provide tendering share for BO online. You can just visit online trading platform and once the offer start, you can offer than for Buyback.

In case of discount brokers, you have to mail then with the offer form you will receive from the registrar that you want to tender the shares. They will send your TRS(Transaction registration slip) telling that the share are offered for tendering.

Once you tender the share, the same would be deducted from your Demat account. Once the offer end, the registrar will see how many shares are tendered and based on which it would be decided on what percentage of your shares would be brought back.

Once it is decided, you will receive the money minus the brokerage and STT. Rest of the shares would be refunded back to your Demat account.

The process by itself for tendering the shares is very easy. You can do it completely online with the need to visit anyone.

Should you apply for the Buyback

Anyone who is holding the stock for long term and have net holding of Rs 2 lakh, this buyback make lot of sense. If you are someone who is planning to buy shares now, when the price is almost 292, the buyback leaves you with around Rs 28 or around 9.5% return in around 3 month time ( times it take to complete the BO), but in case 100% of shares are not brought back, then the return would be lower than 9.5%. Also, there would be a 15% short term tax payable if you are buying shares now and selling before a year, so net return is closer to 8%.

Hope we have answered all your question about BO. In case you have any more questions, let us know and we will try to answer then in detail.

We would not recommend anything here. We are not SEBI registered advisor and would request you to take advice from a registered advisor before taking any trades. We cannot be held liable for any loss arising because of this.

Salasar Techno Engineering Ltd IPO allotment status will be available soon. The IPO allotment is expected to take place within 6 working days from the closing of the issue on July 17th. The allotment status should be available by July 23rd and it should start trading from July 25th. The issue was heavily oversubscribed, so for retails expect 1 lot allotment only.

Once the issue is allotted you can check the status here just by providing your PAN card number, application number of Client ID. Just select the option of Application Status, from the drop down select Salasar Techno Engineering Ltd IPO and check by providing your PAN Card Details.

The link is slow as lot of people are trying to access it. Please be patient and wait for it to open.

Au financiers Limited are non-banking finance company (“NBFC”) who serves mainly low and middle income individuals and businesses. Au financiers Limited are coming up with an IPO. They are going to introduce their initial public offer which will hit the primary market on 28th June 2017 and closes on 30th June 2017. The company aims to raise around Rs. 1912 crore by offering shares at Rs.355 – Rs.358 per Equity Share. Out of 1912 crore up to 1,000,000 equity shares are reserved by employees, so basically issue size is 1876.74 crore.

About Company

Au financiers Limited was originally incorporated as ‘L.N. Finco Gems Private Limited’ on January 10, 1996. Au financiers Limited are Jaipur, Rajasthan based firm. They are a non-banking finance company (“NBFC”) who mainly provides services to the people of low and middle class along with small businesses those have limited or no access to formal banking and finance channels.

Au financiers Limited works in three business lines which are:

Vehicle finance – They divide the vehicles finance into several categories of vehicles:

MUVs

cars

small commercial vehicles

light commercial vehicles

medium and heavy commercial vehicles

tractors

three wheelers

two-wheelers

Construction equipment.

They also finance the purchase of pre-owned vehicles. Loan tenures for their vehicle finance loans are up to five years.

Micro, small and medium enterprises (“MSMEs”) loans- As part of their MSME loans business, they primarily extend loans to micro and small manufacturing firms, service enterprises and traders. Loan tenures for their MSME loans are up to 12 years.

Small and medium enterprises (“SMEs”) loans- Their SME loans business extends loans to several types of small and medium sized businesses including HFCs and MFIs. Loan tenures for their SME loans are up to 15 years.

They are categorized as a “Systemically Important, Non-Deposit Accepting Asset Finance Company” (NBFC-ND-AFC) by the Reserve Bank of India. They received a license from the RBI to set up a ‘small finance bank’ (“SFB”) on December 20, 2016 and they are the only NBFC categorized as an asset finance company to obtain such license.

They operate their operations through 300 branches spread across 10 states and one union territory in India, with significant presence in the states of Rajasthan, Gujarat, Maharashtra and Madhya Pradesh and employed 6,092 personnel serving 270,692 active loan accounts till December 31, 2016.

They have access to diverse sources of liquidity, such as term loans and working capital facilities, proceeds from loans assigned and securitized, proceeds from the issuance of non-convertible debentures (“NCDs”) and commercial paper, and subordinated debt borrowings from banks, mutual funds, insurance companies and other domestic and foreign financial institutions to meet their funding requirements.

Competitive Strengths

Diversified Product Portfolio and Revenue Streams

Customer Centric Organizational Commitment

Significant Presence in Rural and Semi-Urban Markets with Focus on Low and Middle Income Customers

Leverage Existing Capabilities and Customer Base as they Transition into a Retail Focused SFB

Grow SFB Branch Network in Our Existing Markets

Provide a Comprehensive Suite of Banking Services

Leverage Technology to Grow Business

Enhance Brand Presence

Objects of the Issue:

The objects of the Offer are as follows:
1. To achieve the benefits of listing the Equity Shares on the Stock Exchanges and
2. For the sale of up to 53,422,169 Equity Shares by the Selling Shareholders.

Financial and Competition Analysis

The revenue has been Rs. 229.85 cr. (FY12), Rs.410.65 cr. (FY13), Rs 565.5 cr. (FY14), Rs 687 cr.(FY15), 1046.9 cr.(FY 16), 1430 cr.(FY17) growing at a CAGR of 46% over a four year period. The profit has been Rs. 37.28 cr. (FY12), Rs.69.35 cr. (FY13), Rs 72.54 cr. (FY14), Rs 139.45 cr.(FY15) and 247.15 cr.(FY 16) and 842 cr.(FY17). The FY 17 profit consist of exceptional income of 670 Cr. It EPS is Rs 11.7 excluding exceptional item based on which the P/E multiple they are asking for is 30.6 ( 358/11.7).

Capital First can be compared to AU financial and they have a multiple of around 28.58. So the IPO seems to be fully priced.

Disclaimer: We are not SEBI registered advisor and this article is not an investment advice. We are not authorized to give investment advice nor do we provide it on this website. In case you are interested in investing, we would advise you to contact your advisor for the same. We cannot be held liable for any loss arising due to investment made as per this article.

CDSL IPO allotment status will be available soon. The IPO allotment is expected to take place within 6 working days from the closing of the issue on June 21st. The allotment status should be available by June 27th and it should start trading from June 30th.

Once the issue is allotted you can check the status here just by providing your PAN card number, application number of Client ID. Just select the option of Application Status, from the drop down select CDSL IPO and check by providing your PAN Card Details.

The link is slow as lot of people are trying to access it. Please be patient and wait for it to open.

Eris Lifesciences IPO allotment status will be available soon. The IPO allotment is expected to take place within 6 working days from the closing of the issue on June 20th. The allotment status should be available by June 27th and it should start trading from June 29th.

Once the issue is allotted you can check the status here just by providing your PAN card number, application number of Client ID. Just select the option of Application Status, from the drop down select Eris Lifesciences IPO and check by providing your PAN Card Details.

The link is slow as lot of people are trying to access it. Please be patient and wait for it to open.

Tejas Network IPO allotment status will be available soon. The IPO allotment is expected to take place within 6 working days from the closing of the issue on June 16th. The allotment status should be available by June 23rd and it should start trading from June 27th.

Once the issue is allotted you can check the status here just by providing your PAN card number, application number of Client ID. Just select the option of Application Status, from the drop down select Tejas Network IPO and check by providing your PAN Card Details.

The link is slow as lot of people are trying to access it. Please be patient and wait for it to open.